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which urges that by wednesday they have the requirement to collect sales taxes even though the sellers are not located in those states. >>> and meanwhile, amazon.com and founder revealed in a 60 minutes interview revealed the biggest retailer is working on a drone delivery service that he says could be up and running in five years. more on the jetson's like idea, and the hurdles it faces. amon, could this plan ever really get off the ground? >> i see what you did there, tyler, look, these things will not fly an inch if the faa doesn't say they can do it. and right now, there is just not the regulatory infrastructure in place to allow a swarm of drones flying over residential and commercial areas of the united states. it is just not possible. but congress has told them to get ready for it and to have the regulations in place by 2015. a lot of experts say the faa will not likely hit the deadline, it will take time to work this all out. among all the things the faa has to think about are how all the drones flying over the areas in the united states would interact with regular aviation and
which urges that by wednesday they have the requirement to collect sales taxes even though the sellers are not located in those states. >>> and meanwhile, amazon.com and founder revealed in a 60 minutes interview revealed the biggest retailer is working on a drone delivery service that he says could be up and running in five years. more on the jetson's like idea, and the hurdles it faces. amon, could this plan ever really get off the ground? >> i see what you did there, tyler,...
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the supreme court refused to hear their challenge to an internet tax. the decision let the state law stand. sales tax will be collected from customers in new york and other states. >> drones are known for delivering death and destruction. amazon wants to change the perception. they plan to use flying robots to deliver packages faster. >> it may look like science fiction. amazon says package delivers via drones could be five years away. the ayounnnouncement from the c coming hours before cyber monday. domminos pizza put out this video. amazon is serious. this tech writer believes them. >> you have to think about the scale of amazon, if they deploy this technology, they'll do it on a high scale. the technology advances at amazon, and if the faa puts the infrastructure in place, i don't see why it wouldn't. >> an order is boxed in a warehouse, attached to the drone and sent to the delivery address. 5 pounds much weight is allowed. one of the technical issues. >> how do we make them safe, that they can't be hacked and will not fall out of the sky or run int
the supreme court refused to hear their challenge to an internet tax. the decision let the state law stand. sales tax will be collected from customers in new york and other states. >> drones are known for delivering death and destruction. amazon wants to change the perception. they plan to use flying robots to deliver packages faster. >> it may look like science fiction. amazon says package delivers via drones could be five years away. the ayounnnouncement from the c coming hours...
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talking about amazon, no taxes, the irs has not ruled on taxes crept, and that's an interesting point because barter and exchange is still something people like to do. melissa: for the record, we're very suspicious of that story. scott mrtin, thank you so much. >> see ya. melissa: $4,000 for a bottle of whiskey. people are paying for the good stuff, and this man is making a fortune. you can never have too much "money." we'll be right back. ♪ ♪ every day we're working to be an even better company - and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. so ieserve a small business credit card with amazing rewards. with the spark cascard from capit one, i get 2% cash back on ery purchase, every day. i break my back around here. finally soone's recognizing me with unlimited rewa
talking about amazon, no taxes, the irs has not ruled on taxes crept, and that's an interesting point because barter and exchange is still something people like to do. melissa: for the record, we're very suspicious of that story. scott mrtin, thank you so much. >> see ya. melissa: $4,000 for a bottle of whiskey. people are paying for the good stuff, and this man is making a fortune. you can never have too much "money." we'll be right back. ♪ ♪ every day we're working to be...
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a lot of states want to tax online sales. right now amazon pays its affiliates and i'm only saying amazon because they're the biggest and there's not sales tax collected. brick and mortar mom and pop are saying this is unfair. our prices are higher because we've got to pay sales tax. so the supreme court is saying states, you decide. it upholds a new york ruling arouing sales tax to be collected. california, colorado, a number of other states are on board with internet sales taxes trying to even that playing field, if you will. so there you go. by the way, last story which i don't have time for, applebee's, tablets on all tabletops. so in other words, you order, pay, kids play games. with drones, tablets and self check-in flights and hotels, humans are becoming irrelevant. >> let's have as little interaction as a species as possible. i'm going to say good-bye to you -- >> this is not even me. it's a fake hologram. >> i knew it wasn't possible for a real human being to be that handsome. look, i finally shut him up. >>> the lis
a lot of states want to tax online sales. right now amazon pays its affiliates and i'm only saying amazon because they're the biggest and there's not sales tax collected. brick and mortar mom and pop are saying this is unfair. our prices are higher because we've got to pay sales tax. so the supreme court is saying states, you decide. it upholds a new york ruling arouing sales tax to be collected. california, colorado, a number of other states are on board with internet sales taxes trying to...
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man of tax foundation explains not every online retailer is required to collect tax. back in the '70s the supreme court ruled that only businesses with a nexus, or a physical presence in the state, had to collect sales tax. but last year, california lawmakers went one step further. >> california is one of 12 states that passed a law that redefines physical presentations. >> reporter: it was coined the amazon tax and focused on large retailers lik amazon. some courts found the law unconstitutional. but the u.s. supreme court has decided to let a similar stand in new york. here in california the law went into effect last year requiring companies like amazon to collect tax at the time of purchase. >> regardless of whether they charge, you have to pay the tax. if it's not a sales tax at the time of purchase, you're supposed to keep your receipts and pay a use tax at the end of the year. nobody does it. >> reporter: but buyer beware. while henchman says for now the state is only likely to go for you on taxes like big items like cars or art, when it comes not fluctuating ec
man of tax foundation explains not every online retailer is required to collect tax. back in the '70s the supreme court ruled that only businesses with a nexus, or a physical presence in the state, had to collect sales tax. but last year, california lawmakers went one step further. >> california is one of 12 states that passed a law that redefines physical presentations. >> reporter: it was coined the amazon tax and focused on large retailers lik amazon. some courts found the law...
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." >>> on the "cbs moneywatch," the days may be numbered for tax-free web shopping. and why you want to check your lottery tickets. wendy gillette has more. >> good morning, anne-marie. the cost of online shopping may be headed up as more states could start collecting sales taxes on internet purchases. this after the supreme court refused to get involved in state efforts to force online retailers to collect sales taxes from their customers. the case involved a lower court ruling in new york. it ruled that websites like amazon and overstock must pay sales tax the same way in-state businesses do. the supreme court decision came on what appears to be the busiest online shopping day of the year, cyber monday. early indications are that online sales yesterday were up 17.5% from last year. mobile devices accounted for nearly a third of all online shopping. >>> stocks in asia finished mostly lower amid key reports in the u.s. hong kong's hang seng's lost 0.5%. tokyo's nikkei gained 0.5% to its highest close in six years thanks to a weekend yen. the dow jones lost 77 points
." >>> on the "cbs moneywatch," the days may be numbered for tax-free web shopping. and why you want to check your lottery tickets. wendy gillette has more. >> good morning, anne-marie. the cost of online shopping may be headed up as more states could start collecting sales taxes on internet purchases. this after the supreme court refused to get involved in state efforts to force online retailers to collect sales taxes from their customers. the case involved a...
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it's going to be taxed. >> it sounds like we're talking politics. people are becoming more accepting of marijuana in this country. so goes colorado so goes the rest of the country. >> i didn't expect what i saw in colorado. >> what are we looking at? if this becomes a billion dollars industry, how are we going to buy our pot? >> they are calling this the dot com rush. this is where it's going to vaporized opiniopens where they the tobacco or the weed itself. we talked to one company that grew 1600% last year. >> if you want the old traditional bong, water pipe, excuse me. i don't know if you can say bong. >> it's available, in p new yin york you can't say the word. but colorado you can't swing a cat without hitting -- >> you can have it in ingestible form. >> things that like like dingdongs and twinkies. sodas are coming. you could have a sip of this and, you know, have a nice afternoon for, it is amazing how many different products. >> even oil, butters. >> creams for every sort of, a lot of these folks want to get very serious about it as well and
it's going to be taxed. >> it sounds like we're talking politics. people are becoming more accepting of marijuana in this country. so goes colorado so goes the rest of the country. >> i didn't expect what i saw in colorado. >> what are we looking at? if this becomes a billion dollars industry, how are we going to buy our pot? >> they are calling this the dot com rush. this is where it's going to vaporized opiniopens where they the tobacco or the weed itself. we talked to...
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businesses haven't been paying taxes, most residents aren't paying their property taxes. but businesses are beginning to come back in. there's a trickle of businesses and some bigtime -- dennis: okay, but, guys, to get back more specifically to the topic at hand, scott martin in chicago, detroit faces $18 billion unfunded liabilities, and people had to wait hours for the police to show up. were the unions wrong to fight for pensioners? >> no, i don't think they were wrong, dennis. that's what they had to do. the joke around in chicago is chicago is basically could be detroit, you know, in a couple years. i mean, that's one thing that's going on ear is we're having the same -- here, this is just a precursor to a possible wave of bankruptcies that might happen across the country. i'll tell you one thing else to watch out for, watch out for your muni bond portfolios, the bonds that allow these cities and states issue, the funny part -- and jeff flock brought it up in his interview, a lot of those pension funds be buy those very bonds. so you're going to talk about downgrades
businesses haven't been paying taxes, most residents aren't paying their property taxes. but businesses are beginning to come back in. there's a trickle of businesses and some bigtime -- dennis: okay, but, guys, to get back more specifically to the topic at hand, scott martin in chicago, detroit faces $18 billion unfunded liabilities, and people had to wait hours for the police to show up. were the unions wrong to fight for pensioners? >> no, i don't think they were wrong, dennis. that's...
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your last year's tax return. if you didn't have one, information about payroll, pay stubs, et cetera. >> and gather all this information before you go to healthcare.gov. >> yes. because you're going to need it to complete the application. the other wonderful piece of news that came out yesterday that no one seemed to notice is that for the very first time healthcare.gov has a shopping function, a browsing function. something it should have had from day one but it's now there and working. when you go on the home page, there's a little -- >> the little -- >> the little medallion on left, click on that, and you can enter some very simple information about yourself and see all of the plans available to you. >> without putting financial data, stuff in you may not want to. >> no financial data. it won't calculate whether or not you have a subsidy coming to you, but it will show you the plans available to you in your area with the premium for a person your age. you can even looking at the provider networks and drug list
your last year's tax return. if you didn't have one, information about payroll, pay stubs, et cetera. >> and gather all this information before you go to healthcare.gov. >> yes. because you're going to need it to complete the application. the other wonderful piece of news that came out yesterday that no one seemed to notice is that for the very first time healthcare.gov has a shopping function, a browsing function. something it should have had from day one but it's now there and...
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i think what will happen when you get to year end, a lot of muni funds will be pressured more, tax law selling -- >> lots. >> you'll do okay buying these funds at a discount. >> we won't necessarily see that pressure from the broader market, certainly. people maybe the last couple of years, any harvest, time is running out. >> there's still lots of things to harvest this year. lots of munis you can swap out of. munis are out. those are good places to swap into a different fund if you need to. take the loss, put it in your pocket if you don't need it and carry it forward. tax law accounting is huge in investing. >> we've been out of the muni market for the past 14 to 15 months when munis started getting back over 5% we've been a buyer. we've been aggressively buying municipal bonds. >> rob morgan any opinion on that before we go, quickly? >> absolutely. i think having a portfolio for individual investor tilted more toward short end and rising rate environment makes sense. i think detroit bankruptcy spells trouble more for retirees on pension plans more for than muni bond investors. >> a
i think what will happen when you get to year end, a lot of muni funds will be pressured more, tax law selling -- >> lots. >> you'll do okay buying these funds at a discount. >> we won't necessarily see that pressure from the broader market, certainly. people maybe the last couple of years, any harvest, time is running out. >> there's still lots of things to harvest this year. lots of munis you can swap out of. munis are out. those are good places to swap into a...
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it tells the insurers exactly what kind of peopremiumpremiumsd of insurance, what kind of tax credits any individual enroll e is eligible for. the huge problem there, many of the insurers are not getting the correct information on their fo form. it was a big question today with the white house. spokesperson jay carney had this to say? >> we have instituted a number of significant fixes to the so-called 834 forms, which are these -- that's the vehicle by which information is transmitted to the issuers. and we believe that the majority of fixes to 8s 34 forms have been made, including significant ones made over the weekend. we expect the info now sent to insurers to be vastly improved but we are going to continue to work with issuers to make sure that whatever remaining problems persist afixed? >> it is crunch time. three weeks until december 23rd if you are going to have insurance by january 1st, that is the beginning. the effective date of the affordable care act, obamacare, you have to enroll by december 23rdrd. if you are in the individual marketplace, if you don't get your insuranc
it tells the insurers exactly what kind of peopremiumpremiumsd of insurance, what kind of tax credits any individual enroll e is eligible for. the huge problem there, many of the insurers are not getting the correct information on their fo form. it was a big question today with the white house. spokesperson jay carney had this to say? >> we have instituted a number of significant fixes to the so-called 834 forms, which are these -- that's the vehicle by which information is transmitted to...
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those taxes hold. now will the rest of the states start to decide, you know, we're emboldened, we're going to try to go after more of the taxes. >> the law has been store on this. it started with sport books, betting online. they went back to the 1960s communication acts to find wiretapping and stuff, ways to get their hand on it. this has been happening to are a while, as the internet is creating commerce, government wants a slice. >> right. it's a big slice. it is a really big slice. brick and mortar and online retailers are merging. look at something like amazon, they have 34 mufulfillment cents across the country. i think what it could mean for new york and it has been, some of the big online retailers are going to make sure they're not creating jobs in new york. they want to continue to argue we don't have a physical presence in new york. >> i live here, if i'm buying fishing equipment in tennessee and shipping it to someone else, it's all of these cross state laws. >> everyone says it's messy, ma
those taxes hold. now will the rest of the states start to decide, you know, we're emboldened, we're going to try to go after more of the taxes. >> the law has been store on this. it started with sport books, betting online. they went back to the 1960s communication acts to find wiretapping and stuff, ways to get their hand on it. this has been happening to are a while, as the internet is creating commerce, government wants a slice. >> right. it's a big slice. it is a really big...
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that is something that congress is currently weighing is whether to tax financial transactions. it does not have a lot of support, so i do not see that happening anytime soon. europe is a little bit different, they have actually imposed some trading taxes, which has been to the chagrin of the banks. host: peter, on the republican line/ . caller: let's get the history state on what happened during the financial crisis. during the 1990s there was a lot of pressure by the minority groups to increase the amount of affordable housing. so the clinton administration developed the public private partnership to get banks to create more loads for low income people. that calls --was caused a mandate on fannie and freddie to purchase subprime mortgages. they had increased the mandate 110% to 55% of her juices of sub i mortgages. -- purchases of subprime mortgages. he continued that public-private partnership that clinton had , upblished the which after to 2007 and 2008, the number of those mortgages were so great that caused the financial collapse. the government gave the green light to wal
that is something that congress is currently weighing is whether to tax financial transactions. it does not have a lot of support, so i do not see that happening anytime soon. europe is a little bit different, they have actually imposed some trading taxes, which has been to the chagrin of the banks. host: peter, on the republican line/ . caller: let's get the history state on what happened during the financial crisis. during the 1990s there was a lot of pressure by the minority groups to...
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let's raise taxes and spend more money on education. we spend more money per student than any other country in the world. and yet we're falling further and further behind. your wife also very involved in education reform. i mean it seems so many people have taken a real interest in this over the past decade. and the numbers keep slipping. >> they keep slipping. i'll quote my wife on this. her view is having worked in charter schools and curriculum reform is that there's no silver bullet. what might work in tennessee might not work in arizona, might not work in new york. >> one size fits all does not work. >> there's not a kind of, i don't want to sound like a states rights guy but there's not a national answer to this. it is, in fact, a national security issue. it's about imperial decline. >> mike, a very interesting thing about this study, poland one of the great success stories. one of the things they did was they focused more on who went to traditional colleges and who was moved over to vo tech areas. that is one area we have to real
let's raise taxes and spend more money on education. we spend more money per student than any other country in the world. and yet we're falling further and further behind. your wife also very involved in education reform. i mean it seems so many people have taken a real interest in this over the past decade. and the numbers keep slipping. >> they keep slipping. i'll quote my wife on this. her view is having worked in charter schools and curriculum reform is that there's no silver bullet....
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how are you with taxes? [ laughs ] [ counselor ] and for even more cleaning power, try cascade platinum. [ laughs ] she loves to shop online with her debit card. and so does bill, an identity thief who stole mary's identity, took over her bank accounts, and stole her hard-earned money. unfortunately, millions of americans just like you learn all it may take is a little misplaced information to wreak havoc on your life. this is identity theft. and no one helps stop it better than lifelock. lifelock offers the most comprehensive identity theft protection available. if mary had lifelock's bank account alerts, she may have been notified before it was too late. lifelock's credit notification service is on the job 24/7. as soon as they detect a threat to your identity within their network, they will alert you, protecting you before the damage is done. lifelock has the most comprehensive identity theft protection available, guarding your social security number, your money, your credit, even the equity in your home.
how are you with taxes? [ laughs ] [ counselor ] and for even more cleaning power, try cascade platinum. [ laughs ] she loves to shop online with her debit card. and so does bill, an identity thief who stole mary's identity, took over her bank accounts, and stole her hard-earned money. unfortunately, millions of americans just like you learn all it may take is a little misplaced information to wreak havoc on your life. this is identity theft. and no one helps stop it better than lifelock....